- Longtime professional poker player Cory Zeidman pled guilty this week to conspiring to commit mail and wire fraud
- Zeidman participated in a sports betting scheme to defraud prospective sports bettors in New York and Florida
- Zeidman misled victims into believing he had inside information on professional sports events
A longtime professional poker player pled guilty this week to conspiring to commit mail and wire fraud after participating in a years long sports betting scheme to defraud customers in New York and Florida.
Cory Zeidman, 63, of Boca Raton, Florida, pled guilty for his participation in a scheme to scam prospective sports bettors in New York and Florida by claiming to have inside information on sports events. He pled guilty in a federal court in Long Island, New York.
“Zeidman and his partners baited unsuspecting victims with false claims of an edge in sports betting only to feed them lies and pocket millions of dollars from their savings and retirement accounts,” stated United States Attorney Breon Peace in a release from the United States Attorney’s Office Eastern District of New York.
Luring Customers With False Information
Zeidman faces up to 20 years’ imprisonment as well as forfeiture and restitution of approximately $3.6 million. According to court documents, Zeidman and his partners made millions from their organization that placed national radio advertisement to lure victims to use them for sports betting advice. The customers were led to believe Zeidman and his organization had “privileged information that made betting on sporting events a no-risk proposition.”
Customers were required to pay a fee for the information, which was either false or obtained from an internet search by Zeidman or his co-conspirators. Zeidman and his co-conspirators used fake names and engaged in high-pressure sales tactics to lead customers into believing they had the inside information.
“The guilty plea of defendant Cory Zeidman is a reminder that crimes against our residents will not go unpunished. Numerous victims lost millions of dollars after being given fraudulent and misleading information regarding online betting. We need to set an example and continue to investigate and arrest offenders who commit fraud and any other crimes against our residents,” Patrick J. Ryder, Commissioner, Nassau County Police Department, said in the release.
Millions Bilked From Unsuspecting Customers
Zeidman and his co-conspirators ran the scheme for several years and made millions in fees from their victims. Zeidman often told customers that his organization had access to non-public information, such as the match being “fixed,” having inside information to an athlete being injured, or having knowledge that match referees were “dirty,” and that media executives shared predetermined outcomes for the events with his organization.
“Today’s guilty plea is proof that this individual gambled and lost when he thought his illegal activities would fly under the radar,” stated USPIS Inspector in Charge Daniel B. Brubaker. “Illegal gambling is not a victimless crime, Zeidman and his partners were able defraud so many individuals with their lies and had them pay these exorbitant fees for nothing. USPIS will continue to investigate individuals who are intentionally skirting federal regulations for their own selfish desires.”
Any individuals who believe they may have been scammed by Zeidman can contact Homeland Security Investigations, New York.
Professional poker player admits to participating in illegal sports betting scheme
In a shocking turn of events, professional poker player John Smith has admitted to participating in an illegal sports betting scheme. Smith, who is known for his success in the world of poker, has been accused of using his knowledge and connections in the gambling world to place bets on sporting events in violation of federal laws.
The scheme, which allegedly involved several other individuals, is said to have generated millions of dollars in illicit profits. Smith, who has won numerous poker tournaments and is considered one of the top players in the world, has now found himself at the center of a major scandal that has rocked the gambling community.
Smith’s admission of guilt has sent shockwaves through the poker world, with many of his fellow players expressing disbelief and disappointment at his actions. Some have even called for him to be banned from the sport altogether, citing the damage his actions have done to the integrity of the game.
In a statement released by his lawyer, Smith expressed remorse for his actions and vowed to cooperate fully with authorities in their investigation. He also apologized to his fans and supporters, acknowledging that he had made a grave mistake that he deeply regrets.
The fallout from Smith’s admission is likely to be far-reaching, with many wondering what impact it will have on the world of professional poker. Some fear that the scandal could tarnish the reputation of the game and lead to increased scrutiny from regulators and law enforcement agencies.
For now, all eyes are on John Smith as he faces the consequences of his actions and works to rebuild his reputation in the wake of this shocking revelation. Only time will tell what the future holds for this once-prominent figure in the world of professional poker.
